Focus on large scale porphyry-associated discoveries - Location, Team, Targets
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Focus on
large scale
porphyry-
associated
discoveries
January 2021
Drilling activities at the Trundle Park target, Trundle project, Central West, NSW Australia
Two diamond core rigs in operation with holes TRDD014 and TRDD015
Location, Team, Targets
January 2021
The views expressed in this presentation are based on information derived from Kincora Copper Ltd’s (“Kincora”) own internal and publicly available sources that have not be independently verified.
This presentation contains certain forward-looking information and statements which may not be based on fact, including without limitation, statements regarding the Company’s expectations in respect of its future financial
position, business strategy, future exploration and production, mineral resource potential, exploration drilling, permitting, access to capital and events or developments that the Company expects to take place in the future. All
statements, other than statements of historical facts, are forward-looking information and statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”,
“will” and similar expressions identify forward-looking information and statements.
In addition to the forward-looking information and statements noted above, this presentation includes those that relate to: the expected results of exploration activities; the estimation of mineral resources; the ability to identify
new mineral resources and convert mineral resources into mineral reserves; ability to raise additional capital and complete future financings; capital expenditures and costs, including forecasted costs; the ability of the
Company to comply with environmental, safety and other regulatory requirements; future prices of base metals; and the ability of the Company to obtain all necessary approvals and permits in connection with the development
of its projects.
Such forward-looking information and statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such information and statements, are inherently
subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information
and statements. Such factors include, but are not limited to, fluctuations in the price of copper and other commodities, the inability of the Company to raise sufficient monies to carry out its business plan, changes in
government legislation, taxation, controls, regulations and political or economic developments in Mongolia, the accuracy of the Company’s current estimates of mineral resources and mineral grades, the accuracy of the
geology of the Company’s projects, risks associated with mining or development activities, including the ability to procure equipment and supplies, including, without limitation, drill rigs, and the speculative nature of exploration
and development, including the risk of obtaining necessary licenses and permits. Many of these uncertainties and contingencies can affect the Company’s actual performance and could cause actual performance to differ
materially from that expressed or implied in any forward-looking information and statements made by, or on behalf of, the Company. Readers are cautioned that forward-looking information and statements are not guarantees
of future performance. There can be no assurance that such information and statements will prove to be accurate and actual results and future events could differ materially from those presented in such information and
statements. Forward-looking information and statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information and
statements. Such risks include, but are not limited to, the volatility of the price of copper, uncertainty of mineral resources, exploration potential, mineral grades and mineral recovery estimates, delays in exploration and
development plans, insufficient capital to complete development and exploration plans, risks inherent with mineral acquisitions, delays in obtaining government approvals or permits, financing of additional capital requirements,
commercial viability of mineral deposits, cost of exploration and development programs, risks associated with competition in the mining industry, risks associated with the ability to retain key executives and personnel, title
disputes and other claims, changes in governmental and environmental regulation that results in increased costs, cost of environmental expenditures and potential environmental liabilities, accidents or labour disputes.
Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information and statements.
The Company disclaims any intention or obligation to update or revise any forward-looking information and statements whether as a result of new information, future events or otherwise, except to the extent required by
applicable laws.
The scientific and technical information in this presentation was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of
Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101.
All pricing and information in this presentation is at the close of business January 11th, 2021 and is in C$, unless otherwise stated, noting Kincora’s press releases on January 20th: ” Kincora intersects further shallow
mineralization at Trundle”; and, “Tax Act from Mongolian Tax Authority”
2
January 2021
Corporate presentation KCC - TSXV
Location, Team, Targets
Investment opportunity 4
Location 6
Team 15
Targets 18
Corporate summary 27
Why Kincora? 28
Appendix 29
3
January 2021
Investment opportunity KCC - TSXV
Proven location: Strategic position in the Macquarie Arc, Australia’s foremost porphyry
belt, with priority drill targets in the shadows of head-frames of existing world-class mines
Proven team: Exceptional track record of Tier 1 discoveries, including a foremost
Ambition
porphyry figure of the Macquarie Arc, with “skin in the game” equity ownership Leading pure play explorer in
Australia’s foremost and world
Proven exploration model: Advanced projects being systematically explored offering
world-class potential following proven exploration models that have yielded similar class copper gold porphyry belt
discoveries in the Macquarie Arc
Proof of concept: First hole at the flagship Trundle project returned 51m @ 1.17 g/t gold
and 0.54% copper from 39m, incl. 20.5m @ 1.94 g/t gold and 1.18% copper from 57.6m,
with further encouragement from additional drilling
Drilling catalysts: Two rigs currently operational at the brownfield Trundle project with
permitting on-going to drill two further projects
ASX listing: Advanced preparations for dual listing on the Australian Securities Exchange
High grade core from
where the Company’s assets and management team are better known, and to tap into Kincora’s TRDD011: 74m @
favourable relative valuation and liquidity differentials (eg BENZ Mining’s recent dual 0.40% copper & 0.37 g/t gold
from surface, including 4m @
listing) (subject to board approval and market conditions) 4.98% copper & 3.36 g/t gold
from 68m
44
January 2021
Capital structure and shareholder register KCC - TSXV
Currently listed on the TSXV and dual listing on ASX
Australian based assets, management/board and Board
seeking to engage with domestic capital market Management
HNW + Family
Institutions
C$21.2m 1,3 70.7m 3
Office
Market Cap Issued shares
6.7m options3
Retail
C$4.4m 2
(weighted average 50c/sh
exercise price)
LIM Advisors 17%
Cash 38.6m warrants
New Prospect Capital 10%
(75c/sh exercise price)
4
RareX
1. Share price $0.30/sh (COB Jan 15, ‘21) 3. Including shares & options pending TSXV Exchange approvals – see release Jan 8 ‘21 release for further
2. Estimated cash balance Dec 31, ‘20 details
4. Shares and shareholder summary incl. consideration issued Mar’20 and held in 12-mth lock up to RareX 5
Limited. Full details www.kincoracopper.com/investors/stock-information
January 2021
Ridgeway
Location
Big Cadia The Macquarie Arc: Australia’s
foremost and world class
Cadia Quarry copper gold porphyry belt
Little Cadia
Cadia Hill
Cadia East
Cadia is the largest alkalic porphyry in the world, Australia’s largest and most profitable gold mine, and the flagship series of Cadia Far East
porphyry clusters in the Macquarie Arc. Image is an illustration of Cadia district discoveries: Cadia Hill and Cadia Quarry (1992);
Cadia East (1994); Cadia Far East and Ridgeway (1996),.
Underground resources projected to surface. Outline of deposits: blue = porphyry; and, red = skarn 66
January 2021
The Lachlan Fold Belt
“As an economic geologist … NSW, Lachlan Fold Belt, for copper and gold, is the place to be”
Richard Schodde, MinEx Consulting
Driven by:
• Multiple world-class mines
− Grade
− Scale / clusters of deposits
Alaska/Yukon
• Exploration prospectivity
− New discoveries
− Public access data
• Exploration/mining culture
• Existing infrastructure
Ecuador &
• Tier 1 jurisdiction Indonesia
Columbia
& PNG
Lachlan
All gold-rich copper deposits Pilbara Fold Belt
in the World, highlighting
those found in the last decade 100 Mt Cu-eq
… and the 5 current hot spots 20 Mt
for exploration
5 Mt
(many of which are in emerging markets or Gold-Rich Copper Deposits
face challenging environment, social and
governance (ESG) considerations) (ie where Au accounts for at least 20% 1 Mt
of the in-situ value)
Discovered since 2010 Discovered prior to 2010
Source: MinEx Consulting © Jan 2021
1. Bespoke Jan’21 request by Richard Schodde from MinEx Consulting for Kincora Copper. 7
January 2021
Proven jurisdiction Insert for slide 10
Australia’s foremost porphyry belt Cobar
The Macquarie Arc of the Lachlan Fold Belt (LFB) is a world-class gold-
copper porphyry belt
Dubbo
World-class belt with world-class mines
>100Moz gold and >24Mt copper endowment (R. Schodde 20201) Boda
− Cadia gold-copper porphyries and skarns (>50Moz Au and >9.5Mt Cu1)
− Newcrest flagship project, Australia’s largest & most profitable gold mine, and the Northparkes Newcastle
largest alkalic porphyry in the world
− Sep’20 qtr: 196,504oz gold @ $1724/oz AISC margin (1.02g/t Au & 0.40% Cu grade) Orange
− Northparkes copper-gold porphyries and skarns (5.5Moz Au and 4.5Mt Cu1)
Cadia
− first quartile operating costs and 2nd largest porphyry mine in Australia Cowal
− Cowal gold-base metal deposits (>12Moz Au1) and porphyries Sydney
− Evolution’s flagship with plans to increase production to 350,000oz/pa gold
Exploration prospectivity
− Boda gold-copper porphyry discovery and resource drilling results at the Tomingley Gold
Operations by Alkane Resources Primary Commodity
− Cowal resource growth since acquisition from 3.4Moz (2015) to 9Moz Gold
− Kincora drilling results at Trundle porphyry project Copper
− Xtract visual results and re-rating from Bushranger porphyry project drilling
Bubble refers to size
− New and level of public access geoscience data and interpretations
− Activity and share price re-rating of exploration junior sector Giant
Medium
1. Bespoke Mar’20 request by Richard Schodde from MinEx Consulting for Kincora Copper. Moderate
Reported on a pre-mined resource basis and LFB with 335 deposits (> Minor size, >10kt Cu, >10koz Au).
NSW state with gold and copper deposits (492) over State Magnetics survey (TMI RTP). 0 200km Minor 8
Source: MinEx Consulting and
Kincora Copper © March 2020
January 2021
Copper discovery benchmarks
Macquarie Arc’s recent exploration contribution - How do TRDD001 (Trundle) and KSDD003 (Boda) rank?
Reported grades, intervals and depths of recent select copper discoveries in Australia and global porphyries
Grade vs. Depth with Grade x Length (Bubble) - Copper Equivalent (CuEQ %)
Reported Kincora intervals for TRDD001 are represented in orange bubbles and Alkane KSDD003 in a navy blue bubble
Length x Grade >100 %-m CuEQ
11
44 (Interval / Company / Project / Hole)
22
1 932
1 GT Gold Saddle North TTD093
0 8
8
5 10 15 20
7
7 2 530
2 Chalice Julimar JRC001
66 3 526
3 Greatland Havieron HAD001
4 326
4 SolGold Cascabel CSD-13-001
5 205
5 Alkane Boda KSDD003
Depth (m)
6 201
6 Sandfire DeGrussa DGRC101
7 131
7 Rio Tinto Winu RC17PAW0001
8 111
8 Kincora Trundle TRDD001
5
5
Note: KSDD007 at Boda high grade returned 687 %-m CuEQ
33 (from 768m) and total hole 1195%- m CuEQ (75m)
Data from October 2009 to June 2020, including 17 projects
Kincora Copper – TRDD001
Note: relatively few new recent notable copper discovery and
Alkane (Boda) – KSDD003 success stories held by listed explorers
Grade (CuEQ %)
Notable exploration results for selected new Australian based copper and global porphyry copper projects.
Bespoke Jul’20- analysis by opaxe.com for Kincora Copper All projects are represented by initial or earliest notable publically available drill hole data.
Appendix and further details provided on slide 37 Please note the Appendix, including disclaimer and compliance requirements on slide 37. 9
January 2021
Recent gold and copper discoveries
Good new exploration results in Australia are being well rewarded
Seven companies with recent exploration success stories have re-rated >8x and created over A$4.6 billion in shareholder value*
Grade vs. Depth with Grade x Length (Bubble) - Gold Equivalent (AuEQ g/t)
Reported Kincora intervals for TRDD001 are represented in orange bubbles and Alkane KSDD003 in a navy blue bubble
3
3 Length x Grade >50 g-m AuEQ
77
0 (Interval / Company / Project / Hole)
2 4 6 8 10 12 14
1 502 Greatland
1 Havieron HAD042 *
- 100 44 2 464 Sky Metals
2 Cullarin HUD002 *
22 3 377 Chalice
- 200 5
5 3 Julimar JRC001 *
4 185 Stavely
4 Thurs. Gossan SMD050 *
- 300 5 180 De Grey
5 Hemi BWAC315 *
Depth (m)
66 146 Alkane Boda KSDD003 *
- 400 7 93 Rio Tinto
7 Winu RC17PAW0001
66 82 Coziron Res Top Camp CRC007
- 500 77 Zenith Red Mountain ZRMRC001
65 Altona Cloncurry CPR628
- 600
60 Kincora Trundle TRDD001
11 Kincora Copper – TRDD001
48 Legend Mawson RKDD007 *
- 700
Alkane (Boda) – KSDD003 Seven companies with recent exploration success stories
have re-rated 8x and created over A$4.6 billion in shareholder
- 800 value since recent initial discovery and Sep 25th, 2020 market cap.
Data from September 2019 to June 2020, incl. 31 projects.
Grade (AuEQ g/t)
Recent notable exploration results for selected Australian based new discoveries.
Bespoke Jul’20- analysis by opaxe.com for Kincora Copper. All projects are represented by initial or earliest notable publically available drill hole data.
Appendix and further details provided on slide 37 Please note the Appendix, including disclaimer and compliance requirements on slide 37. 10Macquarie
January
Junee-Norromine Volcanic belt 2021
What is the Macquarie Arc?
Arc
Molong Volcanic belt
Rockley-Gulgong Volcanic belts
Intrusive Rocks (Ordovician-Early Silurian)
Two predominate parallel volcanic belts Recent to Mesozoic cover
Scope for world-class porphyry-associated deposits limited to the Macquarie Arc Kincora (100%) Mines
Deposits
Kincora-RareX
Kincora controls a district scale 1,649km2 / 8 licence project pipeline Townships
– All licenses in the key Macquarie Arc belts (ex Condobolin)
Joint Venture with RareX Limited: six advanced to early stage copper-gold
projects (March 2020 transaction details slide 36)
• Demonstrated strategic appeal, previous asset level partners:
Project Total metres drilled Last partner
Trundle 61,146m High Powered Exploration (“HPX”)
Cundumbul 844m Mitsubishi Materials Corp.
Fairholme 62,768m Kaizen Discovery
Condobolin 12,556m Ramelius Resources
all left within a 6 month period at bottom of the cycle 2015/16
Jamalong 7,701m
• Demonstrated mineralisation and dollars in the ground
Two licenses from State: Nevertire (382 km2) and Nyngan (762 km2)
• Most prospective and shallow/moderate cover of northern Junee-Narromine belt
10
11January 2021
Lachlan Fold Belt players
Legend Market Cap
Insert of major mining/exploration regions in the Macquarie Arc Kincora (KCC.TSXV) C$21m
Newcrest (Cadia) A$21.8b
Trundle
CMOC (Northparkes) HK$155.6b
Northparkes Boda FMG (recon) A$77.5b
Nyngan Gold & Copper (drilling) private
Project Freeport (recon) US$44.1b
Evolution (Cowal) A$7.9b
Tritton CleanTeq (Sunrise) A$292m
Newmount (recon) US$49.7b
Sandfire (recon) A$935.8m
Fairholme
Alkane (ALK.ASX) A$488m
Magmatic (MAG.ASX) A$28.9m
Boda Alice Queen (AQX.ASX) A$33.8m
Cadia
Tomingley Godolphin (GRL.ASX) A$20.6m
Cowal
Sunrise Trundle Kaiser Reef (KAU.ASX) A$13.7m
Project Inflection (AUCU.CSE) C$23.5m
Northparkes
Sultan (SLZ.ASX) A$12.6m
Krakatoa (KTA.ASX) A$20.9m
1
Xtract (XTR.AIM) £44.1m
Fairholme
Project Rimfire (RIM.ASX) A$16.3m
Cadia Aust. Gold & Copper (AGC.ASX) A$20m
2
Cowal Others 12
Sydney
1. Valuation COB: Jan 19th; 2. Valuation COB: Jan 20th, first day of trading on the ASXJanuary 2021
Proven regional geological model
Focused on clusters of porphyry-associated economic deposits
Cadia and Northparkes are clusters of gold rich porphyry deposits and Cowal a cluster of gold base metals deposits at a higher level in the system
Conceptual illustration of key Alkalic Porphyry Model – Macquarie Arc
• Cadia (Newcrest): Ridgeway high-grade “finger porphyry” deposits and Kincora targets example (adopted from Alan Wilson 2003)
deposit sits within ~3 x 6km zone of 4 larger tonnage, lower
grade porphyry and two skarn deposits Epithermal, quartz-
carbonate-base Peak Hill Legend
• Boda (Alkane): “finger porphyry” discovery surround by ~10 metal-gold zones Gidginbung
drill targets held by juniors within ~20km radius Fairholme
“Finger porphyry”
• Northparkes (CMOC): hosts 5 high-grade “finger porphyry” target zones
deposits within a ~2.5 x 4.5km zone and separate skarn Trundle Park, Mordialloc,
Mordialloc NE, Yarrabandi
deposits Cowal
• Trundle (Kincora): within Northparkes porphyry complex, Cadia East
hallmarks of Northparkes and Cadia systems, covers
167km2 with northern Mordialloc “finger porphyry” target and
southern Trundle Park skarn/”finger porphyry” target
Skarn target zones Little Cadia
• Cowal (Evolution): cluster of 5 epithermal, quartz-carbonate- Trundle Park,
base metal-gold deposits within ~6 x 2km zone to the north Dunns
of a separate porphyry copper complex Cadia Ridgeway
Cadia Far East
• Fairholme (Kincora): hallmarks of Cowal system, covers Northparkes:
169km2 with walk up gold-base metal targets ~15km on E26,E48, E22, E27
strike from Cowal Marsden
Big
Cadia Cadia Hill
Cadia Quarry
Northparkes:
E31, GRP314
13January 2021
Kincora’s project pipeline
Priority advanced drill targets in the shadows of head-frames of existing world-class mines
Two rigs currently operational at the brownfield Trundle project with permitting on-going to drill two further projects
Drilling Trundle
– Brownfield setting within the Northparkes
Igneous Complex,January 2021
Right to Left: Tsolmon Amgaa, Molor Erdenebat,
John Holliday and Peter Leaman
Team
Exceptional track record of
Tier 1 discoveries and in the
Macquarie Arc
15
15January 2021
Experienced Board
1
Exploration Know the “Skin in the
Record Macquarie Arc game”
Multiple Tier 1 Incl. a foremost Own 7% of share
discoveries porphyry figure register 2
Chairman: President and CEO of three Rio Tinto businesses (three different countries)
− Including ex President and CEO Oyu Tolgoi/chair of Exploration Committee - Cameron McRae 4
CEO: >8 years leading Kincora and former leading research/corp finance analyst - Sam Spring 3
Chairman of Technical Committee/NED: a foremost figure on Macquarie Arc porphyries, with
unique project generation and discovery track record based in the region - John Holliday 1
3 4
Emerging markets infrastructure private equity funds, Rio Tinto Executive Office and Head of
Business Development for Oyu Tolgoi: Independent NED - Ray Nadarajah
Lawyer and trader for Marc Rich and Co/Glencore International
− Long-standing director of CBH Resources, mining and exploration in Central West NSW
− Trading copper and other commodities in Asia region, including Mongolia
− LIM Advisors’ (major shareholder) nominee director KCC - Lewis Marks 1 John Holliday 2 Peter Leaman
Director, Technical Snr VP of Exploration,
Committee Chair Technical Committee
3 Sam Spring 4 Cameron McRae
President/CEO, Tech Com Independent Chairman
Full Bio’s on slide 29 or at www.kincoracopper.com/about-us/board-of-directors 16January 2021
Discovery Team
Macquarie Arc of the Lachlan Fold Belt
Major discoveries and extensive regional exploration:
− Cadia Au/Cu (project generation, discovery & project manager
phases) & Marsden Cu/Au
− Previously Chief Geoscientist, Regional Manager ES Asia &
Manager of the Cadia project for Newcrest - John Holliday 3
Chief geophysicist: HPX and key RareX projects (+BHP/Ivanhoe) 33
1
1 22
− Consultant geophysicist KCC - Barry de Wet
Principal geologists with key regional and project knowledge
- Todd McGilvray & Murray Brooker
Consultant geologist: extensive drilling/exploration across district
- Dr Jeff Vassallo 1
International
Major discoveries, includes:
− Reko Diq Cu/Au, Crater Mountain Au/Ag, Mt. Bini (Kodu) Cu/Au etc.
(for BHP) - Peter Leaman
Experienced/successful Exploration Manager/Director: - Paul Cromie
− Gold and copper discovery successes & project gen/management
Trafigura, Mongolia Project Generation head - Molor Erdenebat
Senior geologist Teck and Vale - Tsolmon Amgaa
1 John Holliday 2 Peter Leaman 3 Paul Cromie
Director, Technical Senior VP of Exploration, Exploration Manager
Committee Chair Technical Committee
Full Bio’s on slide 29 or at www.kincoracopper.com/about-us/management 17January 2021
Kincora’s Trundle project
license boundary
Mordialloc
drilling
Trundle Northparkes
Northparkes
township deposits
mine/deposi
and ts
mine
Trundle
Park drilling
Targets
District scale position and
advanced targets offering
Northparkes is the second largest porphyry mine in Australia (behind Cadia), comprised of a cluster of deposits with a 5.5Moz Au
and 4.5Mt Cu endowment. Underground resources projected to surface. world-class potential
Kincora’s Trundle project is located in a brownfield environment to and in the same porphyry complex to Northparkes.
The Trundle township is situated within the Trundle project exploration license. 18January 2021
Trundle - a brownfield setting
Trundle and Northparkes projects – conceptual restoration
Share the same mineralized complex
Now Prospect .
Deposit . . At mineral deposition Prospect .
Deposit . .
Rift Basin
Northparkes
Northparkes
Mordialloc Project
Trundle caldera boundary
license Trundle
Project
Rift Basin
Trundle Park
Rift Basin
Trundle caldera Trundle caldera Northparkes
CMOC boundary caldera boundary
boundary 0 10km
licenses
Background magnetics (TMI RTP) from minview.geoscience.nsw.gov.au 19January 2021
Trundle - a confirmed large mineralised system
The only brownfield porphyry project held by a listed junior in the Macquarie Arc
Kincora’s Trundle is the western section of the Northparkes Igneous Complex, that hosts the second largest porphyry mine in Australia
Trundle Northparkes mining complex1
Geochemical anomalies
Large known mineralised footprints at/near surface in north and south of license – scale
potential equivalent at least the size of the mining and 5 main deposit complex at
>500pm Cu
Deposit (projected to surface)
Northparkes
Largely untested potential across the remainder of the license at Trundle
Mordialloc
− Confirmed similar geological settings/controls as Cadia and Northparkes
− Located in the same porphyry complex as Northparkes: a brownfield setting
− Informal mining activities across full license strike
2k
m − >60,000m of prior explorer drilling but lack of drilling to depths that host the core high
~8.5km grade cluster of deposits/mineralization at Cadia, Northparkes and Boda systems
Trundle1
Geochemical anomalies − >92% holes drilled to 500pm Cu and/or >0.1g/t Au
Informal workings
− Only 11 prior explorer drill holes to depths that might test the potential for a Macquarie
Arc “finger or pencil porphyry” target
Collars by depth (m)
>50m − 2015: Last exploration by HPX (CEO Robert Friedland), included proprietary deeper
Trundle Park >300m penetrating Typhoon geophysical survey identifying 17 anomalies: only 1 hole drilled
Geology
Ordovician volcanics and sediments
− 2020: Kincora’s maiden and on-going drilling program with results supporting a cluster of
2km
2km Porphyry intrusions fertile porphyry systems and world-class scale potential
Devonian sediments
1. Scale of Northparkes to Trundle is 1:1. Northparkes geochemical footprint and deposits projection
adapted from Heithersay and Walshe, 1995, and Owens et al, 2017 20January 2021
Trundle - two advanced priority targets (so far)
Positive results at multiple targets across ~8.5km N-S strike
Broad anomalous surface and down-hole mineralization and
favourable alteration; typical hallmarks for close proximity to cores
of a Macquarie Arc finger porphyry complex
Mordialloc Multiple systems and targeted finger porphyry pipes indicated
from geophysics
Mordialloc
Prior limited deeper drilling interpreted to be away from core of
intrusive systems
Large untested target area
~8.5km
Mv/v Near surface geochemical anomalies
Images legend
>500pm Cu and/or >0.1g/t Au
Informal workings
Prior drill hole traces
Kincora drill hole traces
Background RTP magnetics
Trundle Park
Trundle Park Significant at or near surface skarn mineralization, including recent
high grade zones from Kincora drilling
Multiple board skarn horizons to depth
Improving vectors to expand footprint of the skarn mineralised
system potential and targeted large porphyry intrusion system source
Large untested target area
Typhoon survey chargeability with >14m sec
iso-surfaces highlighted (section >1km depth) 21January 2021
Trundle Park target - our initial concept
Both skarn and “pencil or finger” porphyry style systems are targets at Trundle Park
Skarn alteration and mineralization at Big and Little Cadia helped focus exploration at Cadia toward the largest porphyry system in Australia
Cadia Far East Little Cadia Trundle Park
Skarn target zones
1 Pencil or finger porphyry 2 Near surface skarn TRDD001
Open 2 Near
surface
skarn
“Finger porphyry”
target zones
Fluids cool as they
migrate, providing
vectors to Cadia and Trundle Park
underlying
1 Pencil or Sections 1 Pencil or
source
finger finger
porphyry Zoned alteration and porphyry
mineralized skarn
Magmatic fluids Hematite skarn
from an underlying
porphyry copper- Magnetite skarn
gold source
Pyrite skarn
Garnet skarn
200m 200m
Further details on pathways between skarns / porphyry deposits provided on slide 34
Adapted from David Forster – “Pathways between skarns and porphyry deposits – A NSW perspective” - Exploration in the House, June 2009 22TRDD007 TPRC003 TRDD001 TRDD011 TRDD012 TRDD015
January 2021
Trundle Park - central target
Multiple and broad skarn horizons with grade at/near
surface growing at central Trundle Park Significant widths and grades – highlights include:
Encouragement for skarn grade and causative intrusion (porphyry source) TRDD001 - High grade mineralized skarn zones:
– Surface zone: 51m @ 1.17 g/t gold and 0.54% copper from
Significant widths and grades – highlights include: 39m, incl.20.5m @ 1.94 g/t gold and 1.18% copper from
TRDD001 - High grade mineralized skarn zones from near surface: 57.6m
– Surface zone: 51m @ 1.17 g/t Au & 0.54% Cu from 39m, incl.20.5m @ 1.94 g/t Au & – 2nd zone: 18m @ 0.53 g/t gold and 0.05% copper from
1.18% Cu from 57.6m 284m
– 2nd zone: 18m @ 0.53 g/t Au & 0.05% Cu from 284m Adjacent mineralized porphyry intrusion system*
Adjacent mineralized porphyry intrusion system – 21.1m @ 0.25 g/t gold and 0.03 % copper from 664m to
EOH
– 21.1m @ 0.25 g/t Au & 0.03 % Cu from 664m to EOH
TRDD008 - Broadest grade skarn intervals, & from surface (off RHS section 145m SW):
TRDD008 - Broadest grade skarn intervals:
– Surface zone: 87.7m @ 0.65 g/t gold and 0.19% copper
– Surface zone: 87.7m @ 0.65 g/t Au & 0.19% Cu (surface), incl.: 16.4m @ 1.51 g/t Au &
(surface), incl.: 16.4m @ 1.51 g/t gold and 0.19% copper
0.19% Cu (surface); &, 8m @ 1.64 g/t Au & 0.57% Cu from 66m
(surface); and, 8m @ 1.64 g/t gold and 0.57% copper from
– 2nd zone: 19m @ 0.43 g/t Au & 0.21% Cu from 388m, incl. 4m @ 0.94 g/t Au & 0.57% Cu
66m.
TRDD011* - High grade, structurally controlled mineralized skarn zones: – 2nd zone: 19m @ 0.43 g/t gold and 0.21% copper from
388m, incl. 4m @ 0.94 g/t gold and 0.57% copper
– 74m @ 0.37 g/t Au & 0.40% Cu (surface), incl.14m @ 1.39 g/t Au & 1.69% Cu from 58m
TRDD012* - Primary bornite and chalcopyrite veining down dip from TRDD011
TRDD011 - High grade mineralized skarn zones:
suggesting hotter part of the porphyry system and vectors for follow up: – 74m @ 0.40% copper and 0.37 g/t gold from surface,
incl.14m @ 1.69% copper and 1.39 g/t gold from 58m
– 29m @ 0.18 g/t Au & 0.10% Cu from 191m, incl. 2m @ 0.05 g//t Au & 0.87% Cu (from
195m); &, 1m @ 1.17 g/t Au & 0.09% Cu (from 204m)
TRDD012 - Primary bornite and chalcopyrite veining :
Refer to Nov 30th, 2020 & Jan 20th 2021 press releases for further details and QA/QC – XXm @ XX
procedures: www.kincoracopper.com/news/press-releases. *Part assay results 23January 2021
Trundle Park - encouraging grade and scale potential
Significantly improved geological model and targeting, with strike potential to be drilled north and south
Prior explorer average drill depth only 28m at Trundle Park “Central” Trundle Park prospect area – geological model
Trundle Park-Dunns
prospect skarn-porphyry
target zone with existing
at/near surface
mineralised footprint (LHS)
• Planned drilling to step
out north and south of
Dunns existing defined
“central” Trundle Park
prospect area and
mineralisation
• Dunns and other
southern license
skarn/porphyry targets
provide further scale
upside
Near surface geochemical
anomalies (LHS image)
>500pm Cu &/or >0.1g/t Au
Informal workings
Trundle Park Kincora drill hole traces
Kincora planned holes
Down-hole gold assay trace
Assay results pending
Background RTP magnetics
500m
* Refer to Jan 20th, 2021 press release for further details and
QA/QC procedures: www.kincoracopper.com/news/press- 24
releasesJanuary 2021
Mordialloc target is a cluster of finger porphyry deposits
Hallmarks supporting a cluster of pipe or pencil like, high-grade “finger” porphyries
Similar exploration approach, geological vectors and target as Cadia-Ridgeway
Cadia – Ridgeway discovery sequence1 Cadia – Ridgeway alteration and mineralization 2 Mordialloc – where to next at TRDD002
Initial NC371 hole was entering potassic zone; extension Kincora hole TRDD002 was entering potassic zone;
entered target; before discovery hole NC498 extension/follow up required
1. Initial RC drilling
targeting an IP RGRC1 8m @ 0.42g/t
anomaly – Au, 0.51% Cu TRDD002
promising alteration 60.0m @ 0.06g/t Au
0.05% Cu
194m
2. Follow up diamond
down dip – similar NC371 118m @ 49.7m @ 0.04g/t Au
analogous Cu 0.10% Cu 0.05% Cu
signature to adjacent
to Cadia Hill
102m @ 0.13g/t Au, Grade shells 6.0m @ 0.07g/t Au
0.40% Cu 0.11% Cu
514m 0.2% copper
NC498 145m @
3. Extend NC371, 4.30g/t Au,1.20% Cu
intersecting vein 0.2g/t gold
1.5m @ 0.07g/t Au
zone faulted off 0.07% Cu
52m @ 0.94g/t Alteration zones
Au,0.24% Cu
Post mineral cover
4. Discovery Hole - Step 790m
back/down dip, Sodic (alb-qz-py-chl) 69.3m @ 0.03g/t Au
175m west of NC371 858m 0.05% Cu
84m @ 7.40g/t Outer propylitic (chl-alb-epi-py) TRDD002
testing faulted off Au,1.27% Cu extension
vein zone and mag Inner propylitic (chl-hem-alb-act-mt)
low
15m @ 0.77g/t Potassic (btt-mt-cpy-or-alb)
1026m
Au,0.54% Cu and 1100m
45m @ 0.25g/t 0 200m Calc-potassic (btt-act-mt-bn-alb-or)
0 200m 0 200m
Au,0.32% Cu
Silicification, minor garnet skarn
1 Holliday, J.R. & Cooke, D.R., “Advances in Geological Models and Exploration Methods for Copper +/- Gold Porphyry Deposits” - 2007
2 Holliday, J.R. & Wilson, A.J., “The Cadia porphyry Au-Cu district, NSW, Australia: Geology and Discovery - 2012 25January 2021
Fairholme project - gold-base metals target
Looking for another Cowal deposit(s), following in the shadows of significant resource growth by Evolution
Kincora’s Fairholme project has various hallmarks to the world-class Cowal mine in the Macquarie Arc
Manna Creek Kennel Anomalous near surface mineralised footprint to Cowal, less than 15km on strike from
Cowal and never been systematically drilled for a Cowal style near surface deposit
Boundary Previous gold, copper and base metal drill intersections at the Gateway prospect at
Gateway
Fairholme are favourable and analogous Cowal, open in multiple directions with
Dungarvan
Gateway significant strike potential and inadequately previously followed up
prospect
Planned
Planned Kincora drilling will for the first time test these targets potential with diamond
drilling: drilling, and look to expand the target zones strike with a air core drilling program
Diamond − Confirmed similar geological settings/controls as the Cowal Igneous Complex which
Air Core hosts two prevalent mineralisation styles:
− northern gold deposits: E41, E42, E46, GRE46
Prospect and Deposits
Gold
− southern calc-alkalic porphyry: E43, Marsden, E39, Milly Milly
North Cowal
Gold-Copper − The Fairholme “Gateway prospect” is located 15 km north of Cowal’s E46 deposits with
Cowal mine Porphyry similar splay faults from the Booberoi shear zone that transects through the Cowal
structurally controlled “Gold Zone” and 5 main deposits
E42 E46 Central Cowal Faults and lineaments
E40 E41 Inferred splay fault − >63,000 metres of prior explorer drilling at Fairholme focused on the deeper calc-alkalic
Major shear zone porphyry potential, with nearer surface Cowal style gold potential not tested and
E39 previously dismissed
Faults
Licenses − 2013-15: Last prior exploration program by Kaizen Discovery (a HPX controlled
Kincora company), included proprietary deeper penetrating Typhoon geophysical survey and
Evolution – Mining follow up deep drilling targeting copper porphyry potential only
Evolution – Exploration − Since, Cowal’s resources have increased from 3.4Moz to 9Moz (and open)
Milly Milly E43 Marsden 0 10km
26January
Magnetic Vector 2021
Amplitude
Nyngan and Nevertire projects
(MVA) background
Prior drill holes
Planned KCC holes
Gravity anomaly
Two porphyry targets yet to be drilled into basement Kincora license
Region potentially covers the largest intrusive centre of the Macquarie Arc Other licenses
NYNGAN
Kincora was an early mover into the region and portfolio covers the interpreted most prospective
and shallow to moderate cover of the northern Junee-Narromine Belt
− Subsequent land grab, incl. FMG and Inflection Resources
− Boda discovery provides proof of concept confirming the undercover northern extension of the
parallel Molong belt; similar concept being pursued now by Kincora
Nevertire and Nyngan projects consolidate 1144km2 land position
Region is favourably compared to the Lachlan Transverse Zone (“LTZ”) that has often been
interpreted as a fundamental control on the formation of the Cadia-Ridgeway and the Northparkes
porphyry deposits Nyngan
township
− Region prospective for the largest volcano-intrusive centre of the Macquarie Arc
Untested potential:
− Nevertire: no prior holes to basement
NEVERTIRE
− shares complex with FMG Resources
− Nyngan: only 3 holes to basement
− prior positive result of anomalous gold and copper
Kincora awarded A$120,000 under the New Frontiers Co-Operative Drilling Grants program from the
Government of NSW for drill testing two porphyry targets at the Nyngan project1
− Grant monies are non-dilutionary and will fund direct drilling costs on a matched dollar-for-dollar
basis for two large-scale porphyry targets
1. See September 14th, 2020 press release for further details 27
27
0 10kmJanuary 2021
Why Kincora?
LOCATION TEAM
Strategic position in Australia’s Exceptional Tier 1 discovery track
foremost, gold rich, copper porphyry record and “skin in the game”
belt ownership
PORTFOLIO OF ADVANCED TARGETS DRILLING WITH CATALYSTS
Multiple targets, being actively Proof of concept with positive drill
explored, offering world-class results, well funded to confirm
potential discovery(s)
28January 2021
Appendix - Board and Technical team
Discovery team
Board
Cameron McRae Technical Committee Exploration Manager Technical Adviser
Independent Chairman
Sam Spring Peter Leaman Paul Cromie Barry de Wet
Remuneration Committee
Based in Sydney, NSW President & CEO, Director Senior Vice-President of Exploration Manager – Geophysics
Joined Sep 2012 Exploration Australia Consultant
Seasoned mining industry executive. 28-years with Rio Tinto, incl. Based in Melbourne, VIC Based in Brisbane, QLD
President & CEO of 3 businesses (3 different countries), including
commissioning of the Oyu Tolgoi open pit and commencement of
Leads Kincora's activities since 2012, incl. Over 40 years exploration with Economic geologist with >25 years >50 years experience, actively
the underground development. Advisor to Kincora for majority of
active exploration, resolution of 106- BHPB, incl. Country manager mineral exploration, resource contributing to discovery of
period since Oyu Tolgoi. Recently moved to near Wollongong.
license/IBEX transaction disputes with Mongolia, 2006-09 responsible development, project gen, project deposits with Ivanhoe Group
Lewis Marks Mongolian government and active M&A for the Ivanhoe JV, and PanAust and regional exploration leadership (Ivanhoe Australia and HPX) and
strategy. Former leading mining analyst, Ltd, Multiple discoveries incl. and management experience. BHPB (Chief Geophysicist).
Non-Executive Director (LIM Nominee)
>10 years within Goldman Sachs and Tier 1 Reko Diq Cu/Au porphyry Previous roles incl. DPM (Expl. Knowledge of Mongolia from
Audit Committee
Ocean Equities, CA and CFA Charterholder. with focus on copper-gold director), Anglo America (chief BHP and HPX, and LBF from
Based in UB, Mongolia
deposits. Brisbane based. geoscientist Asia-Aust.) and Tigers HPX, including previously
Former practicing and currently registered New York lawyer, who Realm. working on RareX ground.
has lived in Asia for over 37 years, including residence and business
operations in Mongolia for most of the last 17 years. Extensive
experience across the natural resource sector. Senior Team
Ray Nadarajah John Holliday Molor Erdenebat Tsolmon Amgaa Todd McGilvray
Independent Non-Executive Director,
Independent Non-Executive Director
Technical/Committee Chair
Head Geologist Project Gen Geologist Murray Brooker
Chair of Remuneration and Audit Committees
Principal Geologists
Based in Hong Kong Based in Orange, NSW
Seasoned finance executive and investor with extensive >30 years exploration with BHP Minerals Over 10 years of base metal Over 20 years in mineral Todd and Murray both have
experience in the natural resources and infrastructure sectors and Newcrest. Principal discoverer/site exploration and mining exploration with juniors, and more extensive regional and project
in Mongolia and globally. Principal with Global Infrastructure manager for Cadia Tier 1 gold-copper experience including roles with recently with the majors Vale and specific experience in the
Partners, ex-TPG, Rio Tinto, Oyu Tolgoi, Citi and Goldman, porphyry and Marsden porphyry in LFB., Trafigura, Erdene Res. and Teck as Senior Geologist. Macquarie Arc and are based in
having worked in over 25 countries. Worldwide experience in gold/copper Solomon Res, in Mongolia/Africa. NSW.
deposit exploration, discovery/evaluation.
Further details available at www.kincoracopper.com/about-us 29January 2021
Appendix - Term sheet & tax act for Mongolian portfolio
Conditional transaction to retain carried upside to Mongolia portfolio
“
Subject to due diligence and definitive agreements, noting subsequent tax act
The framework provides attractive upside to
Binding term sheet executed with Resilience Mining Mongolia Pty Ltd (“RMM”) for Kincora’s Mongolian Kincora, backing a well-motivated group,
asset portfolio retaining significant upside to exploration, project generation and development successes1 advancing an attractive portfolio and project
Subsequent Tax Act and retrospective liability claim to one of Kincora’s Mongolian subsidiaries from the generation strategy. The deal also enables
Mongolian Tax Authority predominately relating to 2016 merger with IBEX which Kincora strongly refutes2 Kincora to focus on our district scale pipeline
and ongoing drilling activities in NSW,
Benefits to Kincora from RMM Agreement: Australia.” Kincora chair, Cameron McRae
− retain a 20% free carry interest on existing project portfolio
− to own 9.9% of RMM upon successful listing and raising on the ASX
− first right of refusal to gain a 20% interest in any new project generated by RMM in Mongolia
Completion of the Agreement is conditional on:
RMM chair, Mark Stewart: “our focus is
− Completion of due diligence review by RMM nearer surface higher-grade deposits on
− RMM having raised a minimum of A$6 million in new equity Kincora’s tenure and through their and our
−
−
−
RMM having listed on the ASX
Kincora gaining certain approvals for the Agreement
The execution and delivery of the definitive option agreement
particular, we will look to bring our “
project generation database and network. In
development experience to the table, initially
focusing on the scope for a maiden JORC
resource and near term oxide SXEW
development potential at Bronze Fox.
For further details refer to December 14th, 2020, press release “Kincora to retain carried upside to Mongolia portfolio”.
For further details refer to January 20h, 2021, press release “Tax Act from Mongolian Tax Authority ”. 30January 2021
Appendix - World-class deposits: Junee-Narromine Belt
Core of the systems not evident in the top 50 Northparkes Cowal
metres
CMOC (China Molybdenum Co Ltd) Evolution Mining
Northparkes is gold rich copper porphyry mine, the
second largest porphyry mine in Australia, with FY’2020F Production 38.6kt Cu 2 FY’2020F Production 217,500 Au 1
AISC US$1.34/lb Cu 2 AISC A$1,015/oz Au 1
first quartile operating costs comprised of 5 main
deposits Resources 3.3Mt Cu and 3.7Moz Au 2 Resources 9Moz Au 1 (3.4Moz when acquired 2015)
Endowment 5.5Moz Au and 4.5Mt Cu 2 Endowment 12.4Moz Au 2 (Target 15Moz1)
Cowal is Evolution Mining’s flagship project and a Expansion Stage 1 in execution 1 Expansion Feasibility studies to 350koz/pa Au 1
world-class, open pit gold operation comprised of
5 main deposits 4.5km
E26 GRP314 E48 E22 E27 Au >0.2g/t
E46 U/G Resource/de
posits
GRE46 U/G
Shears/struct
Galway ures
Top 50m Regal E46
O/P
E42
4.5km
E41 West E41 East
U/G U/G
Cu >0.5%
Background:
• E22 discovery (1st DDH): 229m @ 0.61% Cu, 0.67g/t Au 1 Magnetic Vector
• E26 discovery: 441m @ 0.67% Cu1 Amplitude (MVA
1. Sourced and adapted from public market disclosures and Evolution Sep’20 investor day
2. Bespoke Mar’20 request by Richard Schodde from MinEx Consulting for Kincora.. “Endowment” reported on a pre-mined resource basis. 31January 2021
Appendix - World-class deposits: Molong Belt
• Core of the systems not evident in the top 50 Cadia Boda discovery
metres (and system not even seen in the top 50
metres for Boda) Newcrest Alkane Resources
FY’18/19 Production 913koz Au 1 KSDD003 502m @ 0.48g/t Au, 0.20% Cu 1
• Cadia is Newcrest Mining’s flagship project,
AISC US$132/oz 1 incl 108m @ 1.06g/t Au, 0.41% Cu
Australia’s largest gold mine (with significant copper Drilled 200 metres beneath KSRC018, 311m @ 0.28g/t Au
credits) and comprised of 5 main deposits Resources 37Moz Au and 8.2Mt Cu 1
KSDD005 689m @ 0.46g/t Au, 0.19% Cu 1
Endowment >50Moz Au and >9.5Mt Cu 2
incl 119m @ 1.47g/t Au, 0.29% Cu
– Australia’s largest and most profitable gold mine Expansions Stage 1 in execution 1
– Sep’20 quarter production: Stage 2 in feasibility 1 KSDD007 1167m @ 0.55g/t Au, 0.25% Cu 1
– 196,504oz gold incl 97m @ 3.97g/t Au, 1.50% Cu
– $1724/oz AISC margin 5.7km
– 1.02g/t Au and 0.40% Cu head grade Ridgeway Cadia Quarry Cadia Hill Cadia East Cadia Far East
KR95DB002 KSDD003 KSDD005
Top 50m
• The Boda discovery by Alkane Resources is the best
greenfield porphyry discovery in the Macquarie Arc
for the last 20 years 72m @ 0.26g/t Au
from 78m-EOH, Top 50m
– Provides proof of concept for porphyry copper- incl 27m @ 0.37g/t Au
to EOH
gold potential in the northern undercover
extension of the Molong belt, and similar in the
Junee-Narromine Belt 300m
>0.46g/t Au,>0.2%
Cu
Au >1g/t >0.6g/t Au,>0.2% Cu
>1.5g/t Au,>0.3% Cu
Outline of Cu
mineralization
Au >0.2g/t
Schodde charts for resource growth Cu >0.1%
• Cadia Hill discovery (6th hole): 217m @ 1.36g/t Au, 0.15% Cu 1
• Ridgeway discovery: 145m @ 4.3g/t Au, 1.20% Cu 1 400m
1. Sourced and adapted from public market presentations, releases and papers.
2. Bespoke Mar’20 request by Richard Schodde from MinEx Consulting for Kincora.. “Endowment” reported on a pre-mined resource basis. 32January 2021
Appendix - Trundle: prolific mining and infrastructure district
Centered between two, $2bn plus (plus), long life mining projects
The central west of NSW is an agricultural, mining, infrastructure and rail hub
Between Northparkes, Australia’s second largest porphyry mine, and CleanTeQ’s large, low
cost, long life Sunrise development stage, battery materials complex
Close to existing major infrastructure, incl. national logistics hub and inland rail at Parkes
Sealed and unsealed roads traverse most of the license area servicing predominately farming
properties and the town of Trundle
Active regional exploration groups: China Moly, Fortescue, Clean TeQ, Alkane, Rimfire Pacific,
Emmerson Resources and Kincora
License owners Infrastructure Mineralization
Kincora Township Copper
National logistics
CMOC hub and inland rail Gold
Clean TeQ Operating mine
Lead
Alkane Res Development project
Nickel
FMG Non operating mine
Zinc
Sandfire Railways
Title Applications Major road Large deposit
Moderate deposit
Other Secondary road Occurrence
33January 2021
Appendix - Pathways between skarns / porphyry deposits
Skarn and Porphyry deposit examples and ratios
Examples of porphyry and skarn deposits
Skarn name and Porphyry resource Skarn type and skarn Porphyry:
location (wt%Cu, ppm Au) resource skarn
ratio
Big Cadia and Little Cadia Hilla and Cadia FeCuAu
Cadia*1 NSW Australia Quarryb 352Mt @ 0.16% Big Cadia1 30Mt @ 0.5% 1:12
Cu and 0.63 ppm Au; Cu and 0.4 ppm Au; Little
40Mta @ 0.21% Cu and 0.4
ppm Au
Cadia East 220Mt @ 0.37 Little Cadia 8Mt @ 0.5% Cu
Cu and 0.43 Au and 0.3 ppm Au 1:28
Ingerbelle BC, Simikameen skarn+2 CuAu 42.6Mt @ 0.45% 1:21
Canada2 porphyry 141Mt @ 0.47% Cu, 0.63 ppm Au2 1:3*
Cu and 0.13% Cu5
Ok Tedi Papua 439Mt @ 0.59% Cu and AuCu 28.8Mt @ 1.58 ppm 1:15
New Guinea 0.51 Au3 Au, 1.25% Cu
Big Gossan Porphyry not define 34.7Mt @ 2.69% Cu n.a.
Indonesia
Kucing Liar AuCu Au-Cu 220Mt @ 2,796Mt Au-Cu 1.57 ppm Au, 1.42% 1:12
Indonesia @ 0.97 ppm Au and 0.09% Cu (much more ore in
Cu4 ‘heavy sulfide’ zones)
Sourced and adapted from “Pathways between skarns and porphyry deposits – A New South Wales perspective” – David Forster, Exploration in the House, June 2009 35
34January 2021
Appendix - Trundle assay results
Easting Northing Core Assay Press
Target Hole# Length (m) Dip (°) Azimuth (°) RL (MGA) (MGA) recovery results release
Trundle Park TRDD001 685 60 262 270 570049 6352082 95.9% Yes 1
Mordialloc TRDD002 790 60 101 271 568443 6360363 98.2% Yes 2
Bayleys TRDD003 721 60 329 274 569230 6360641 99.5% Yes 3
Trundle Park TRDD004 694 55 264 271 569780 6352079 99.6% Yes 3
Mordialloc TRDD005 958 60 110 266 568439 6360204 97.3% Yes 3
Mordialloc TRDD006 962 70 275 267 568599 6360206 98.9% Yes 4
Trundle Park TRDD007 521 60 264 268 570012 6352230 84.4% pending
Trundle Park TRDD008 490 60 264 272 569920 6351962 97.1% Yes 4,5
Trundle Park TRDD009 445 60 310 267 569611 6352378 99.2% pending
Trundle Park TRDD010 643 60 330 272 569963 6351919 96.4% pending
Trundle Park TRDD011 332 55 330 270 570036 6352041 94.8% Part 5
Trundle Park TRDD012 581 55 330 270 570062 6351997 85.6% Part 5
Trundle Park TRDD013 390 60 330 272 570012 6351827 94.6% pending
Trundle Park TRDD014 ongoing 65 330 275 569832 6351811
Trundle Park TRDD015 ongoing 60 330 273 570086 6351953
For further details, including QAQC procedures, please refer to the following press releases:
1. July 6, 2020 - Kincora announces high-grade gold-copper results from first hole at Trundle
2. July 23, 2020 - Kincora reports further strong encouragement at Trundle
3. September 3, 2020 - Kincora provides update on expanded drilling program at Trundle
4. November 30, 2020 - Kincora intersects broad mineralized zones at Trundle
5. January 20, 2021 - Kincora intersects further shallow mineralization at Trundle
35January 2021
Appendix - Kincora deal with RareX for LFB projects
Key commercial terms (closed March 19, 2020) Project Trundle Cundumbul Fairholme Condobolin Jemalong
License(s)—EL 8222 6661 6552 and 6915 7748 8502
Kincora issuing 14.95m common shares at a deemed price of $0.065/sh, Size (km2) 167.0 69.3 169.2 89.1 91.5
subject to 12-month lock-up, resulting in RareX becoming a 9.9% shareholder Previous partner HPX Mitsubishi Kaizen Ramelius n/a
Payment of $150,000 in cash: $100,000 in cash consideration; and, $50,000 in Volcanic belt Junee- Molong Junee- Junee- Junee-
cash as reimbursement for outstanding holding costs/license renewals Narromine Narromine Narromine Narromine
Kincora acquiring a 65% interest in the respective 6 licenses, becoming Holes by depth profile
operator and sole funder of all further exploration until a positive scoping study 0–25 metres (# holes) 1,359 1 21 317 1
or preliminary economic assessment ("PEA"). Upon completion of the PEA, a Metres drilled 15,260 18 373 2,670 0
joint venture will be formed with standard funding/dilution and right of first
25–50 metres (# holes) 683 1 56 117 1
refusal on transfers.
Metres drilled 23,656 34 2,197 4,446 42
Kincora is committed to maintain the full licence portfolio in good standing for
50–100 metres(# holes) 98 3 358 39 11
a period of 12-months and RareX shall have the right to retain a 100%
ownership in any licence that Kincora may elect to drop or to not renew, for no Metres drilled 6,364 260 27,791 2,735 811
consideration. 100 to max (# holes) 68 5 206 14 51
Metres drilled 15,866 532 32,408 2,705 6,848
All licenses (ex Condobolin) are considered prospective for Cadia Valley and/or
Northparkes style copper-gold porphyry deposits. Max depth (metres) 589.4 118 799.5 250 183.2
Total # of holes 2,208 10 641 487 64
• The Trundle project is of immediate interest and a priority for the
exploration program. Total metres drilled 61,146 844 62,768 12,556 7,701
• A systematic review and ranking of targets at other licenses will also be References:
undertaken across the full license portfolio. 1. David Forster: “Pathways between skarns and porphyry deposits–A NSW perspective”. Exploration in the House, Jun’09
2. See RareX (then Clancy Exploration) ASX release dated 9 Mar’10 for further details
3. See RareX (then Clancy Exploration) ASX release dated 25 Jun’10 for further details
4. See RareX (then Clancy Exploration) ASX release dated 28 Feb’11 for further details
36January 2021
Appendix - Peer group analysis disclosure and
disclaimer
Bespoke Jul’20 analysis by opaxe.com for Kincora Copper
opaxe is a proprietary database of announcements published by resources companies listed on the world’s major stock exchanges: www.opaxe.com
• All projects in this report are represented by the initial or early reported drill hole data as reported by the relevant company
• The projects shown in this report were selected as being representative for Kincora Copper’s purposes
• The data for the Gold and Copper charts is from September 2019 to June 2020
• The data for the Copper charts is from October 2009 to June 2020
• All commodities have been converted to AuEQ and CuEQ for the respective charts
• Kincora results are represented by the orange bubbles
The information in this report does not qualify as a Public Report as defined by clause 6 of the JORC Code (2012). It is not prepared for the purpose of informing investors or potential investors or their advisors
and is not published for or on behalf of any of the companies mentioned in this report. opaxe has no equity or other interest in any of the companies mentioned in this bulletin.
A full list with links to all individual Public Announcements for each company mentioned in this report is provided through opaxe.com. opaxe takes no responsibility for the compliance of those Public Reports,
and it is up to each individual company to make sure that drilling intercepts are reported in a material and transparent manner in compliance with the relevant reporting codes for the respective jurisdiction. For
ASX-listed companies, the relevant JORC Code (2012) clauses are 4, 18, 19, and 50. Investors or potential investors using the information in this report are recommended to download the full reports either
directly from the company’s website or through the links in weekly lists provided by opaxe.
Drill intercept grades have been converted into AuEq and CuEq using the following metal prices, in AUD, Gold (g/t; $/oz) $2,594.44; Silver(g/t; $/oz) $26.74; Palladium(g/t; $/oz) $2,702.62; Platinum(g/t; $/oz)
$1,180.41; Ruthenium(g/t; $/oz) $215.00; Iridium(g/t; $/oz) $1,020.00; Rhodium(g/t; $/oz) $2,040.00; Copper(%; $/lb) $2.69; Nickel(%; $/lb) $8.40; Cobalt (%; $/lb) $18.72; Zinc (%; $/lb) $1.33; Tin (%; $/lb) $9.57;
Lead (%; $/lb) $1.17; Molybdenum (%; $/lb) $10.89
sourced from https://www.quandl.com/collections/markets/commodities, https://www.uxc.com, https://markets.businessinsider.com/commodities or https://www.metalbulletin.com/lithium-prices-update.
The formula used to convert drill intercept grades to gold equivalence using stated metal price is as follows:
Where z is the number of listed components (e.g. Au, Ag, Pb, Cu, Zn, Li2O, Sn, Co etc) and Cn is the nth component in that list.
Gold and Copper has been chosen as the metal equivalent for all conversions as these were considered as primary commodities by Kincora Copper.
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